Beyond Meat offers a portfolio of innovative plant-based meats designed to simulated chicken, beef, and pork sausage, and is one of the fasts growing food companies in the United States. The multinational company is based in California, United States, and was founded in 2009. Since then, it has expanded to the entire U.S. market and select countries internationally. The company's revenue reached to over 87 million U.S. dollars in 2018, most of which came from its fresh platform products. As more restaurants and other foodservice locations started carrying Beyond Meat products, revenue from that distribution channel grew exponentially.
Beyond Meat's The Beyond Burger had a sales value growth of over 166 percent in 2019, a substantial lead over other frozen meat substitute brands. However, the brand with the most significant amount of unit sales was competitor Morningstar Farms, with just under eight million units worth over 53 million U.S. dollars. Most consumers have tried plant-based "meats" before; those who favor plant-based protein over animal protein mostly do so because of the product's taste.
Meat alternatives, though rising in popularity, are only a portion of the plant-based foods market. More consumers have purchased plant-based milk than plant-based meats, with sales milk alternatives and other plant-based dairy products valued at a combined two billion U.S. dollars in 2019. The quickest growing segment of the market is for spreads, dips, sour cream, and sauces, providing a variety of vegan and vegetarian trimmings for plant-based proteins.